Germany Approves Liechtenstein TIEA

18.03.2010

Germany’s Cabinet has recently approved a bill pertaining to the bilateral tax information exchange agreement with Liechtenstein. According to a statement from the German Finance Ministry, the agreement will now be incorporated into national law.

The TIEA contains the OECD standard, and provides that information will be exchanged upon request. This will enable tax information to be exchanged not only in cases of tax evasion, but also as part of standard assessment procedures, without the need for the state concerned to present suspicion of a tax crime.